New Regulation to Curb Drug Counterfeiting in India

India’s pharmaceutical market is reported to be the world’s third largest in terms of volume, but the thirteenth largest in value. This can be attributed to its low manufacturing costs and the availability of a skilled workforce. India currently supplies over 50 percent of global demand for various vaccines, pharmaceutical export from India was estimated to be US$ 17.27 billion in 2017-18 and is expected to grow by 30 percent to reach US$ 20 billion by the year 2020. The pharmaceutical industry in India, being one of the largest in the world attracts not just investors but also counterfeiters.

The counterfeit drugs may be of poor quality, unsafe or ineffective; threatening the health of those that take them. Counterfeit medicines pose a significant public health risk; they can lead to treatment failure, organ dysfunction, and damage, worsening chronic disease condition and can cause early death. The intake of fake drugs has an adverse effect on the immune system as well, and this affects the recovery of a patient from the disease process. A high prevalence of counterfeit drugs has a significant impact on the health and well-being of Indians and the global community at large.

According to recent reports, India loses an estimated $7.8 in revenue annually to counterfeit trade while companies lose over 10% percent in revenue due to counterfeit products (Ahmedabad, 2018). A similar publication reports that fake drugs form 20% of the 40,000 crore Pharma market in India. The new initiative by the Drugs Controller General of India (DCGI) addresses the need to provide consumers with high quality and authentic pharmaceutical products. This initiative will enable consumers to check the authenticity of the drug they desire to purchase to verify if the drugs are indeed genuine. Consumers will be empowered to protect themselves against counterfeiters while brands will have the needed tools to protect their brand reputation.

How Does Sproxil Create Value

Sproxil partners directly with legitimate manufacturers and distributors to apply a special security label with a scratch-off panel to each product unit they manufacture, this Enable consumers at the point of purchase, verify the authenticity of the product. Sproxil empowers consumers by providing them with a sense of security and trust when making purchase decisions about a product. Hence, consumers can avoid wasting time, money and risking their wellbeing on substandard fakes.

How it Works

At the point of purchase, consumers will find the security label with scratch off the panel to reveal a unique, single-use code, which they then send via SMS to us. Our cloud-based technology processes the code and returns a response confirming that the product is genuine or warning that it is suspicious. Consumers can also access the service through various channels a mobile app (available on iOS, Android, and Blackberry), web app (http://Sproxil.com/verify), or by calling the company’s local 24/7 Call Centre (which supports major local languages).

Sproxil enables consumers to take an active role in the fight against counterfeit products by providing information to brand owners that can help them identify areas where counterfeiting or product theft may be present. Sproxil creates a channel for consumers and brands to communicate. Finally, consumers can have a way to provide feedback to brands so that brands can deliver better services and products back to loyal customers.

With the client’s consent, Sproxil can provide the government with information that could help them track down the counterfeiters and thieves. The government can save time and resources tracking down criminal activity using consumer-sourced leads. Sproxil and its clients can assist the government with public awareness campaigns and consumer education efforts. By using Sproxil, all stakeholders profit!!!

Let’s help you protect your brand and consumers from counterfeits. Click here to contact us.

Building Trust and Transparency

Since inception, Sproxil’s goal has been about building trust and transparency through the provision of innovative technology solutions to empower consumers, manufacturers and other business stakeholders against fraudulent trade activities. We launched in Nigeria in 2009 and since then we have expanded our operations into other countries across Africa, Asia, Europe and North America.

With these expansions come a new vision and even more responsibilities which we are adequately prepared to handle, and in line with this, we have updated our vision and mission statements to capture our wider vision for the global business community.

Read our updated statements here.

Mobile Authentication Technology Offers New Hope for Consumers’ Health & Well-being

Counterfeiting is a global problem affecting consumers, brands and the governments. Brands lose billions of dollars in revenue yearly to counterfeiting activities, the same goes for the government who lose tax revenue to this activity and thousands of consumers die yearly from consumption of counterfeit products. Almost everything gets counterfeited, from drugs to food, baby formula, automobile parts, luxury items, etc. making it a growing concern for the global community.

Mobile Authentication Solution (MAS) is a disruptive technology that is changing the game. Key players in product authentication like Sproxil have provided this technology for consumers, brands and other stakeholders to help mitigate counterfeiting. Sproxil, the pioneer of the anti-counterfeiting technology in Nigeria, has made this technology easily accessible to consumers and brands across the globe. Consumers can access this technology on their mobile phones as codes for verification can be sent via SMS, mobile apps, the web, etc. Mobile authentication technology provides immediate responses to consumer verification requests.

This has brought about a new hope to the global community. Consumers can now get good quality products without fear of being tricked into purchasing products of inferior quality that may lead to disastrous outcomes. They can check to verify if the product is authentic at the point of sale, while brands can deploy this technology to check counterfeiting activities related to their products. With over 75 million consumer verifications recorded on Sproxil’s platform, the impact of this technology has been prominent in continents like Africa and Asia.
Sproxil has partnered with multiple brands to protect consumers and to ensure that the affected companies recover their lost market share from counterfeiters and regain consumers’ trust.

We are firmly committed to providing innovative brand protection solutions for brands and consumers across the globe.

Genuine Product Assurance

75 Million Consumer Engagement Milestone

We are glad to announce Sproxil’s recent achievement of reaching the 75 million consumer engagement milestone – the highest in our industry! This achievement further confirms our position as the #1 Mobile Authentication Service provider and as a global consumer engagement expert. As a social enterprise, we are driven by innovation, value for life, empowerment, and trust, and we are also aware that the fight against counterfeiting will continue to be collaborative; hence, our commitment to continually partner with more brand owners, stakeholders and the government to curtail this global issue.

How will this milestone impact your business?

There is an increased consumer awareness about counterfeiting and their willingness to protect themselves from counterfeit products
Consumer’s heightened trust in brands who take measures to protect them from adulterated, substandard and outright fake products
An opportunity to increase your brand reach using Sproxil’s bespoke solutions to connect with consumers on the go
You can leverage Sproxil’s engagement platform to delight your customers by rewarding them for their brand loyalty
Improved brand equity and affinity opportunities for your products
Opportunity to improve your sales numbers and retain, and grow your market share
Carry out brand health checks using Sproxil’s technology to conduct consumer surveys across multiple locations

About Sproxil
Sproxil uses mobile technology to combat counterfeiting and increase brand equity with innovative, consumer-focused product protection and targeted marketing solutions. Its award-winning mobile technology drives revenue and engages consumers at the point of sale through brand assurance, fraud protection, and loyalty rewards. Sproxil’s flagship technology is touted as the most widely used solution of its kind, deployed by several large companies across ten industries and protecting millions of consumers around the world.